Middle East Africa Soybean Oil-based Lubricants Market Report Description:
Middle East Africa soybean oil-based lubricants market report gives comprehensive outlook on soybean oil-based lubricants market across the different countries of Middle East Africa. The report on Middle East Africa soybean oil-based lubricants market gives historical, current, and future market sizes (US$ Mn) on the basis of product type, application and country. This report studies Middle East Africa soybean oil-based lubricants market dynamics elaborately to identify the current market trends and drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, Middle East Africa soybean oil-based lubricants market report includes competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed Middle East Africa soybean oil-based lubricants market to better equip clients with possible investment opportunities across the Countries (Country Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the Middle East Africa soybean oil-based lubricants market report include suppliers, manufacturers, marketers, policy makers, and recent market activities.
Middle East Africa Soybean Oil-based Lubricants Market:
The Middle East Africa soybean oil-based lubricants market estimated to be valued US$ XX Mn in 2018 and poised to grow at significant CAGR over 2019-2025. Market for Middle East Africa soybean oil-based lubricants market is projected to reach US$ XX Mn by 2025 due to combination of environmental concerns, economics and performance issues. Petroleum- or mineral-based oils have historically been, and will likely continue to be the economical choice for many manufacturers to satisfy performance, logistic and cost targets in many applications.
Development and Launch of New Soybean Oil-based Lubricants in the Market
Development and launch of innovative soybean oil-based lubricants by the market players enables surge
in the lubricants market demand over the forecast years. For instance. In July 2, 2018 – Archer Daniels Midland Company (NYSE: ADM) and Cargill have successfully completed their transaction and formally launched SoyVenTM their new joint venture to provide soybean meal and oil for customers in Egypt.
New R&D Activities for Product Development and its Safer Attributes Play an Important Role in Growth of Soybean Oil-based Lubricants Market
The R&D activities for the development of soybean oil-based lubricants has fostered the growth of soybean oil-based lubricants market. Moreover, owing to its greener and safer attributes it is one of the preferred candidate by most of the manufacturers, thereby increasing in its demand. Rising importance of earning carbon benefits in chemical industry is expected to promote demand for bio-based process oils and tap new markets over the forecast period.
Iran Accounts for Larger Market Revenue Share in Middle East Africa Soybean Oil-based Lubricants Market
Middle East and Africa market, together accounted for over XX% share of the global market in terms of volume in 2013. The growing automotive, marine, and aviation industries have led to an enhanced demand for lubricants from these regions. The Iranian market was the largest lubricants market in the Middle East & Egypt was the largest market in Africa, in terms of consumption of lubricants in 2013. The market in Nigeria in Africa and Iran in Middle East are estimated to grow at high rates in the next five years.The transportation sector has a high consumption share in the Middle East & Africa lubricant market. The transportation and non-transportation sectors are estimated to grow exponentially.
Key players profiled in the Middle East Africa soybean oil-based lubricants market include:
- Environmental Manufacturing
- Monsanto Company
- Biosynthetic Technologies
- Cortec Corporation
- Pioneer Hi-Bred International
- Linnaeus Plant Sciences
Key players are now complementing others players for collaborations, acquisitions, new product launch thereby enhancing their product portfolio in the Middle East Africa market. New products and services are the lifeblood of all businesses. Investing in their development isn’t an optional extra – it is crucial to business growth and profitability. For instance, in May 2017, Cargill, Inc. acquired the vegetable-based polyol product lines and other assets of BioBased Technologies in an attempt to strengthen its bio-industrial offerings for existing customers and mark its entry into new segments.
Key Findings of the Report:
Middle East Africa soybean oil-based lubricants market expanding at significant CAGR over 2019 to 2025 to reach market value of US$ XX Mn by 2025 owing to increase R&D activities.
- Based on application engine oils accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on mergers and acquisitions strategies to retain market position in Middle East Africa soybean oil-based lubricants market
Key Features of the Report:
- The report provides granular level information about the market size, country market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
By Product Type
- Type 1
- Type 2
By Application Type
- Metalworking Fluids
- Engine Oils
- Hydraulic Fluids
- Process Oil
- Food Grade Lubricants
- Middle East and Africa
- South Africa
- Gulf Corporation Council Countries(GCCC0S
- Rest of MEA